“Things have been overpriced; they need to come down,” said Glenn Scott-Wright, director at London’s Victoria Miro gallery, who attended the sale. “If Christie’s had dropped the reserves by 20 percent, it would have done better.”

Read the full story from Bloomberg HERE

“Concetto spaziale, La fine di Dio” by Lucio Fontana, an oil and glitter on canvas work executed in 1963, was expected to fetch at least 12 million pounds ($21.8 million) during the Christie’s “Post-War and Contemporary Art” auction in London on Oct. 19. Source: Christie’s Images Ltd. via Bloomberg News

It was not to be. Read more HERE